Impact of Tourism and Brand Extensions

Introducing new products within the same product category, using an existing brand.

Applying an existing brand name to a completely new product category.

Creating a broader range of related product categories under one brand name

Line extensions are often less risky and costly compared to developing entirely new products because they leverage existing brand recognition and customer relationships.

A downside of brand extensions; using a trusted brand with an unrelated product may confuse or weaken the original brand.

Prohibition, the banning of alcohol, led to job losses in breweries, distilleries, and related industries, creating a black market and economic hardship.

Prohibition had a severe impact on Canadian breweries, resulting in business closures, lost jobs, and personal financial ruin for many.

The 18th Amendment made alcohol illegal in the US, leading to Prohibition.

The 21st Amendment repealed the 18th Amendment, ending Prohibition in the US.

The Ontario Liquor Control Board (LCBO), a government-controlled liquor store system, replaced complete prohibition in Ontario with stricter regulations.

Government control of the alcohol industry, like the LCBO, aimed to regulate and monitor the sale of alcohol.

LCBO services evolved over time to include cocktail bars, and the removal of passports and pass cards, with the introduction of wine displays.

A small group of large multinational corporations (MNEs) control a large share of the global alcohol market.

A market segment characterized by low-cost airlines offering basic amenities like flights with minimal additional services or extras.

The Boeing 747, with its larger size and efficiency, contributed to cheaper air travel, making it more accessible to broader demographics.

The emergence of budget airlines like Ryanair and EasyJet in the 1980s and 1990s revolutionized air travel by offering incredibly low fares, often for less than £20.

The 9/11 attacks drastically impacted air travel security, leading to increased airport security measures and heightened cockpit safety protocols.

Airports implemented strict security checks, including prohibiting non-ticketed passengers from accompanying travelers through security and limiting access to the cockpit.

After a significant decline, air passenger numbers gradually recovered to pre-9/11 levels by 2004 and reached a record high in 2007.

The rise of low-cost carriers and the increasing accessibility of the internet led to a surge in online travel bookings, with almost half of all travel-related bookings made online by 2009.

All-inclusive resorts have widespread appeal, attracting families from various countries and generating significant revenue, particularly in beach destinations like the Mediterranean and Caribbean regions.

The cruise industry experienced a massive surge in popularity, with passenger numbers increasing from 500,000 in 1970 to over 20 million by 2013.

The television show 'The Love Boat' popularized the idea of cruising, showcasing vacations at sea on luxury ships.

The world's first scheduled passenger airline service was the St. Petersburg-Tampa Airboat Line, operating between St. Petersburg and Tampa, Florida, on January 1, 1914.

World War 1 significantly accelerated technological advancements in aviation, leading to larger, faster planes and skilled workers.

By the 1930s, flights were connecting the West Coast of the United States to places like Hawaii, expanding air travel.

The Boeing Clipper 314 was a luxury aircraft, capable of carrying 74 passengers and 10 crew over long distances, featuring amenities like bedrooms, dining rooms, and a bar.

World War 2 interrupted the expansion of commercial air travel, but also advanced the technology.

The Boeing 747 was designed to carry large numbers of passengers over long distances, making air travel more accessible to a wider audience, reaching over 8,000 miles without refueling.

Between 2004 and 2019, the total number of commercial flights worldwide significantly increased, from 23.8 million to 38.9 million.

The Icon of the Seas is the world's largest cruise ship, with a capacity of 10,000 people, featuring numerous amenities and experiences.

The Icon of the Seas offers a wide variety of amenities, including 22 restaurants, a park, an aquadome, an ice rink, and even a slide and movie theatre in the ultimate family suite.

The Icon of the Seas offers various suites, including the Icon Loft Suite with features like room service, a welcome bottle of Moet, and unlimited laundry.

The Icon of the Seas offers unique dining experiences, such as the Empire Supper Club, an 8-course dining venue with jazz music, celebrating the glamour of the 1930s.

The Icon of the Seas is divided into eight distinct neighborhoods, each offering unique experiences, such as the Suite Neighborhood, Thrill Island, Chill Island, Central Park, and Royal Promenade.

A tourist destination where travelers are segregated from the local community and experience a curated version of the destination's culture, often catering to Western preferences.

Tourism can have mixed economic effects. While it may generate revenue, the benefits may not be evenly distributed, with a significant portion flowing back to foreign investors instead of local communities.

The Icon of the Seas is 1,200 feet in length, the same as the Empire State Building laid on its side, featuring a Royal Promenade, a 46-foot centerpiece, and various attractions.

Strategies to focus on local investment and supply chains to ensure a greater impact on the local economy and culture.

The idea of a vacation, often with specific expectations like luxurious accommodations and curated experiences, is often rooted in Western cultural values.

The practice of creating tourist bubbles can be viewed as a form of cultural colonization, catering to Western preferences and potentially overlooking the local culture.

A central bank is a financial institution that manages a country's currency, monetary policy, and banking system. It acts as a lender of last resort to commercial banks and often regulates the amount of money in circulation.

The Bank of England is the central bank of the United Kingdom, established in 1694. It initially served as a way for the government to raise money for the navy but later evolved to manage the nation's currency and public debt.

The Federal Reserve is the central bank of the United States, created in 1913 to address financial crises and regulate the nation's banking system.

A run on a bank occurs when a large number of depositors withdraw their money from a bank simultaneously, fearing its insolvency.

Lithium is a chemical element essential for modern batteries used in electric cars and other devices. It is a valuable mineral, especially in countries like Bolivia, which possesses significant deposits.

Potosi, in Bolivia, is historically known as a major source of silver, but now holds considerable lithium deposits. Its past influence on capitalism continues as a key source for this essential mineral in modern technology.

Companies, especially from China and the US, are acquiring land around lithium-rich salt ponds to capitalize on the growing demand for this essential mineral.

The decisions on how and for whom lithium resources in Potosi are developed will play a significant role in shaping global capitalism, potentially reflecting both opportunities and challenges.